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One year on: industry must build on the success of auto-enrolment

Today (1 October 2013) marks one-year since the launch of automatic enrolment, the government scheme requiring employers to automatically enrol their employees into a workplace pension.

In the first year, 1.6 million workers have been auto-enrolled into a workplace pension.

Commenting on the first anniversary of auto-enrolment, Otto Thoresen, Director General, ABI, comments:

"We must build on the success of auto-enrolment  to incentivise greater saving. The research suggests that the timing of the pension reforms is going with the grain of a cultural shift in the UK.

"ABI members are reforming the market to improve customer confidence in pensions: charges have fallen, transparency is increasing, we are changing the processes at retirement to help people make the right pensions choice and we have opened up a debate on the role of tax incentivisation in getting people to save more for longer.

"We will continue to put all our efforts into working with NEST, the government and other stakeholders to build momentum in implementing pension reform successfully.

For more information on auto-enrolment, visit our Pensions section.


Last updated 01/07/2016